FISCAL: What Do You Think?

Citizens of Montclair, N. J. had a mighty
pretty letter in their mail last week. The letter, from Mayor William E. Speers
and Director of Revenue and Finance Bayard H. Faulkner, said that
the town treasury had a surplus of half a million dollars. "What
do you think?" said the letter, "would you rather reduce the
town's debt another $100,000, leaving $400,000 to cut 1940 taxesor
cut 1940 taxes the full $500,000? The enclosed postcard is for your
judgment. . . ." When Montclair's taxpayers had calmed down
sufficiently to reply, they answered that they would take the...